News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • #Bitcoin Price Forecast: #Coinbase IPO May Fuel BTC's Push to Record Highs - https://www.dailyfx.com/forex/market_alert/2021/04/13/Bitcoin-Price-Forecast-Coinbase-IPO-May-Fuel-BTCs-Push-to-Record-Highs.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr $BTC #CoinbaseIPO https://t.co/3iRPfZsswt
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.03% 🇪🇺EUR: -0.09% 🇨🇦CAD: -0.09% 🇨🇭CHF: -0.17% 🇯🇵JPY: -0.18% 🇳🇿NZD: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/89nLQYaP9j
  • Chinese Q1 exports rise 38.7% y/y in Yuan terms, imports up 19.3% y/y and trade surplus at 759.3b Yuan -BBG
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.78%, while traders in Germany 30 are at opposite extremes with 75.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/qyG3FM0e7r
  • Update on #Cryptocurrencies #BITCOIN +0.95% #BITCOINCASH -1.51% #ETHEREUM +0.76% #RIPPLE +8.21% #LITECOIN +0.83%
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/Wuzmi2C95V
  • Stocks on Wall Street retreated from record highs while Treasury yields climbed following smooth bond auctions. The Hang Seng and ASX 200 indexes are poised to gain slightly ahead of Chinese trade data. https://www.dailyfx.com/forex/market_alert/2021/04/13/SP-500-Pauses-Record-Rally-Hang-Seng-and-ASX-200-Drift-Higher.html https://t.co/elDSHDBIgJ
  • Wall Street Futures Update: Dow Jones (+0.03%) S&P 500 (+0.01%) Nasdaq 100 (-0.01%) [delayed] -BBG
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/ns6TUdfkEA
  • Semiconductor shortage labeled as a top and immediate priority for President Biden - The White House
US Dollar Price Gains on US Jobs Report; US-China Trade War Update; Brexit Latest

US Dollar Price Gains on US Jobs Report; US-China Trade War Update; Brexit Latest

Christopher Vecchio, CFA, Senior Strategist

Talking Points

- A continual reassessment of expectations around how the US economy performed in Q1’19 has filtered through into rate expectations evolving in a more supportive way for the US Dollar.

- As both American and Chinese officials talk in more optimistic tones, it appears that we’re in the final stages of the trade war talks.

- Retail traders continue to sell the US Dollar, and moreover, buy EURUSD as it approaches it yearly lows.

Looking for longer-term forecasts on the US Dollar? Check out the DailyFX Trading Guides.

The US Dollar (via the DXY Index) is heading into the weekend on solid footing following the March US Nonfarm Payrolls report. While the initial reaction didn’t inspire much upside, it appears that a continual reassessment of expectations around how the US economy performed in Q1’19 has filtered through into rate expectations evolving in a more supportive way for the US Dollar (indeed, this trend predated the US jobs report). Two key themes will be in the news over the weekend that could very-well lead to gaps in price come Sunday when markets open.

US-China Trade War Talks Near Endgame

Chinese Vice Premier Liu Hue has been in Washington, D.C. the past few days meeting with his American counterparts, US Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin. Reports on the trade talks have been optimistic, with US President Donald Trump indicating that he could meet with Chinese President Xi Jingping by the end of May in order to finalize an agreement. It’s very possible that we’re in the endgame now.

But despite all the optimism, a few key issues remain. Forced intellectual property transfers from foreign companies to the Chinese government remains an issue for the Americans, while the heavy-handed tariffs levied by the Trump administration continues to both the Chinese. Similarly, the viability of an enforcement mechanism is being discussed. Headlines over the weekend could truly break either way; don’t be surprised if there is a gap open over the weekend thanks to the ongoing US-China trade talks.

Latest Brexit News Sees Cross-Party Talks Failing

Commentary from a Labour party spokesperson today poured cold water on hopes that a Theresa May-Jeremy Corbyn attempt at a “national unity” deal would come together before the April 12 Brext deadline. Yet with UK PM May’s government proving either unwilling or unable to change the tenets of the negotiation – that the EU-UK Withdrawal Agreement must be upheld, as well as the joint EU-UK Political Declaration – it appears that a deal may not yet come together.

European Union leaders and officials have been quite vocal in recent days, from Michel Barnier (lead Brexit negotiator) to Guy Verhofstadt (MEP from Belgium) to Donald Tusk (president of the European Council) to Angela Merkel (German chancellor). There are a few common themes: the EU will stand behind Ireland; the UK needs to decide how it wants to Brexit; the EU-UK Withdrawal Agreement must be upheld; and that any extension to the deadline must go in hand with meaningful political action – binding votes or perhaps a call for a General Election.

No matter what, the EU continues to act as if it has no desire to resolve a domestic UK political issue. If the UK leaves the EU, it won’t be due to the EU pushing it out the door.

DXY Index Price Chart: Daily Timeframe (June 2018 to April 2019) (Chart 1)

US Dollar Price Gains on US Jobs Report; US-China Trade War Update; Brexit Latest

After moving past 97.37 to the topside earlier this week, it appears that the DXY Index is on the verge of closing above 97.37 for just the second time in 2019. Accordingly, there’s a growing possibility for a move back towards the 2018 highs near 97.72 (and beyond). Bullish momentum continues to build with the near-term with price stretching further above its daily 8-, 13-, and 21-EMA envelope while both the daily MACD and Slow Stochastics push higher above their respective signal/median lines.

FX TRADING RESOURCES

Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher Vecchio, e-mail at cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

View our long-term forecasts with the DailyFX Trading Guides

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES